UK House Prices 3rd Consecutive Monthly Rise - is Now the Time to Sell Your House

by RichardM 1. July 2009 13:41
FSBO Sign

House prices rose for the third consecutive month in June according to the Nationwide house price index. Also, the tri-monthly measure, widely regarded as the less-volatile and therefore more accurate, has now turned positive; with the average house price 0.9% higher in the three months ending June than the three months previous.

However, it is common knowledge that the current positive data is occurring because of supply shortages, and not because of increased transactions that you would expect if the market had bottomed. Even Nationwide admitted in their report that the current level of transactions, at 55% below the long-term average should be overseeing price falls, not rises.

This has analysts worried that prices will fall again in the near future if supply increases, which it may well do on the back of such continued positive data.

None the less, in our opinion sellers, especially those selling so that their family can move into much-needed larger house, must be selfish and think about themselves not the housing market.

If supply does increase now, then yes prices will fall again and possibly quite drastically. But for those who are planning to move in the near future now is the time to sell your house; sell-up now and get a better price than you will a few months down the line.

As we said in our last post, if you don't want to sell your house now because of the price falls, just remember that bigger houses are falling in value faster, so selling to trade up now is not as bad an idea as you may think.

Also the type of massive supply increases that analysts are worried about, will come only if the masses of investors and forced landlords see now as the time to sell. So, regular people selling their house to move, may not put downward pressure on prices. So you get the best price for your home, and then rub your hands and smile when the investors do let go and prices fall again.

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Now is the Time to Sell Your House

by RichardM 25. June 2009 21:34
money house

Yes, it is true; UK houses have dropped in value by a great deal since they peaked in the last quarter of 2007. This can make selling a hard-pill to swallow; too hard for many people.

But what people must remember is that, while you are selling your house for less than it was worth, you will also get the house you want to buy for a lot less.

In fact, there have been reports according to the Land Registry, house price falls accelerate as you go up the property types, so if you want to trade up you may even end up gaining a little in real terms.

This current correction is far from over. Despite the currently positive news all the signs point to the slump being prolonged. Even if this is the bottom, then all impartial experts are forecasting that even when the market bottoms it will be several years before prices start to rise again.

Can you really put your life and or your families lives on hold for that long? If not register today and sell your house with Zungalow for only £29 per year.

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NAEA Reports Rising Activity - is Now the Time to Sell Your House

by RichardM 18. June 2009 17:19

According to the National Association of Estate Agents for every house put onto the market in May there were 4 buyers registering. This is as much a reflection of supply tightening as it is sellers increasing, although the NAEA did point out that estate agents sold an average of 10 homes in April, more than in any month since September 2007 when things went pear shaped.

The rising activity in the market, coupled with the Halifax house price index showing a 2.6% increase in house prices during May, have led to much more positive statements from NAEA director Peter Bolton King.

"This is one more indicator that the pent-up demand in the housing market is beginning to move. Our agents are reporting increased sales, more people wanting to look for property and a healthy resurgence in first time buyers," he said.

Bolton King also said:

"However it would be silly to speak as if the property market has recovered; and the Government must do everything in its power to help ensure that this is not a bubble. Specifically they must re-examine stamp duty, which is a tax on aspiration and a barrier for thousands of first time buyers."

But I think this was as much about him getting in another dig at the revered stamp duty as it was about tempering his incredibly positive statements.

So, if now is the time to sell property, now is the time to sell your house with Zungalow. It couldn't be easier, and at £29 per year it is far more affordable than the average estate agents fee of £4000.

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Private Property Sales: No One Wants to Sell Your House for the Best Price More than You

by RichardM 16. June 2009 22:13

I just got an article in my Google alerts, our good old friends at Write About Property have been giving us a bit of free advertising. Even if I do say it myself it is well deserved.

The article, titled Private Property Sales: Estate Agents £4,000 Private £29 centred around the fact that the estate agents fee, now far less flexible and fixed at the 2.5% mark is likely putting some people off selling their house, and how these people should try selling their property privately at fees such as the £29 charged by Zungalow.

It's true: when you're house has lost £30,000 off its value, paying £4,000 to sell it does stick in your throat.

One other good point the article makes though is: who cares about selling your house for the best price more than you do?

The answer is no one. When you have only spent £29 to have hundreds of potential buyers viewing your property every week on Zungalow, it leaves plenty of room for additional and possibly creative marketing, like as the article suggested embossing an image of your house onto the side of your transit van.

That sounds a bit whacky, but what about buying a page in the local paper or a board at the local football ground -- use your imagination.

The truth is, if your property is priced realistically it will sell through Zungalow, these other methods are just suggestions to try and accelerate the process. It is also worth mentioning that when you decide to sell your house privately you also have to do things like making your own for sale sign.

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Estate Agents Upping Fees at Wrong Time - Sell House Yourself and Save

by RichardM 12. June 2009 19:13

The downturn in the housing market has made estate agents less flexible about the rates, with many now sticking firm to the 2.5% ceiling.

During the boom, and even normal conditions in the housing market, sellers are able to shop around and barter with estate agents bringing their fees down to 0.5% - 1%.

Empathising with the estate agents it is fair enough, with fewer instructions it makes sense that they would try to charge more money for the instructions that they do get -- estate agents gotta eat too right.

But for sellers this is unacceptable. Millions of UK homeowners are currently in negative equity, and millions more are unable to market their property because they would not get enough for it to pay off the mortgage and buy the house they desire moving into.

For anyone on the borderline of either of those two situations, being able to knock a couple of grand off the estate agent's fee could make a big difference.

Of course the alternative, as we are not shy about saying is to sell your home without the estate agent through a private property sales portal like Zungalow.com, which allows private house sellers to advertise their home for £29 per year.

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Hips Hindering New Instructions Says RICS (and Zungalow)

by RichardM 11. June 2009 22:12

The Royal Institute of Chartered Surveyors has made a statement blaming the new law regarding Home Information Packs for exacerbating the currently shortage of UK housing supply. The new law, which came into effect in April, forces sellers to have the Pack in place, including the new Property Information Questionnaire in place before the property is marketed.

None the less, the new HIPS law has attracted a lot of criticism from within the industry, but some have also praised it as being good news for buyers.

Advocates say the new law means that the houses on sale are serious vendors, and also it means sellers are able to get all the facts straight about a property at the start of the process, rather than finding out something the scuppers the sale down the line costing both parties money.

While the new HIPS law may not be the only, or even the main reason behind the tightening of supply in UK housing stocks, we certainly think it is not helping the situation.

As some of you will know, Zungalow allows its patrons to advertise a single property for sale for an annual fee of £29. For such a small fee, this would allow people to market their property on the off chance that someone would make an offer. Now that people will need to add the cost of a Home Information Pack onto that it makes it a little bit more costly, and perhaps out of the reach of some people.

The only way around it of course, is for the seller to make the Home Information Pack up themselves. Most people are daunted by the thought of preparing the pack themselves, but for people who want to market through Zungalow in such away could perhaps take their time over it.

People who wish to create their own Home Information Pack can find a list of the documents in must contain and the optional documents here, and download the Property Information Questionnaire here

Then it is the cost of a few phone-calls, gallons of petrol, and a fair bit of paperwork to create your own Home Information Pack and Property Information Questionnaire, to allow you to sell your property privately for only £29 per year on Zungalow.com.

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Positive News on UK Housing Market Continues - Some Fear it Could all be Short-Lived

by RichardM 2. June 2009 13:43

The positive news on the UK housing market continues to build. For the last month or so estate agent's have been reporting increased activity, most prominently through their regulatory bodies the Royal Institute of Chartered Surveyors and the National Association of Estate Agents. And now two indices have shown that this increased activity is having a positive impact on house prices.

Nationwide reported a 1.2% increase in prices for May, and the Land Registry showed that house prices fell just 0.3% in April, and both indices found that the rate of annual decline is slowing considerably.

However, this rush of positive news has led to many analysts forecasting a double dip, that house price falls could once again accelerate -- some believe that, ironically it may be the positive news that causes this. They think that because things are looking up that the thousands of people currently holding properties off the market will feel that now is the time to take the plunge.

Short-supply is widely regarded as the biggest fundamental driving prices to stabilise. Many analysts fear that if the supply balance scales are tipped the other way, it could reverse the price stabilisation and send house prices back into free-fall.

Property Investment firm Assets believe they are all very wrong, they said:

"The 'double dip' has already occurred and it is very unlikely we will see another dip in the near future. The negative effects on house prices from poor buyer sentiment and the lack of mortgages are now receding. House prices are very close to long term affordability, and interest rates are likely to remain low for the foreseeable future."

Time will tell who is right. We don't belief prices are finished falling yet, leaving private property sales communities like Zungalow as still in the driving seat when it comes to selling property. With Zungalow £29 allows you to list your property for the entire year, with or without a determined focus on selling. For that price the company believes you can always have your property on the market, and sell or rent it out whenever is right for you.

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Private Property Sales in the UK Explained

by RichardM 26. May 2009 15:46

Private property sales is something that has really taken off in the past year or so. Since the UK housing bubble burst, it has gotten harder and harder to sell houses, and estate agents have been forcing their clients to continually lower their prices, and their expectations in order to achieve a sale.

Selling property privately carries a massive saving compared to using estate agents; estate agents charge between .5% and 4% of the sale price, whereas private property sales websites like Zungalow.com offer the chance to advertise to a wide audience for as little as £29 per year. Most people save around £3000 when selling property privately.

Most people who consider private property sales have a lot of questions, like, but the estate agent does the valuation, how much is my house worth? And, who takes care of the viewings?

There are a whole host of house pricing sites out there today. Anyone considering selling property privately can easily value their home:

You can enter your postcode into Zoopla.co.uk and find out how much homes in your area are selling for. Zoopla prices are based on Land Registry figures and recorded sale prices. Nationwide do a house price calculator on their house price index page. A good way of valuing a house for private property sales is to get a figure from both of those sources, and either split the difference or employ personal judgement.

As for who takes care of the viewings private property sales are just that; private. You as the seller are responsible for everything: valuing, making for sale signs, advertising, house dressing, viewings and negotiating with anyone who makes offers, everything.

If that sounds like too much pressure, selling property privately doesn't have to be a bold choice. Private property sales have gotten so big that estate agents are finally facing some real competition. Combine that with the limited numbers of instructions agents are currently receiving and the seller is in a prime bargaining position.

Most people who are selling property privately are also selling with an estate agent; they have negotiated a clause into the estate agent's contract that says if the property is sold through private property sales the estate agent receives no fee. This tends to make the estate agent really work to sell your home and gives those selling property privately the best of both worlds.

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